Acapulco (Mexico), January 26, 2004 – The FIVB Board of Administration unanimously approved the accounts of the International Volleyball Federation for the year 2003 and congratulated its President, Dr. Rubén Acosta, for the total clarity and transparency of the financial report.

The Board Members assembling in Acapulco from Monday to Wednesday once more recognized the excellent and healthy financial situation of their institution when reading all documents put at their disposal.

At the same time, they condemned with the greatest vigour the calumnious and false statements of an expelled former member from Peru, recently reported in two Mexican newspapers owned by a member of the International Olympic Committee.

The Peruvian National Federation, in a message from its President addressed to Dr. Acosta, made clear that it was in total disagreement with the declarations of a compatriot who has been judged ‘unworthy’ to belong to the FIVB and who therefore has been expelled from the Volleyball world.

The bank reserves of the FIVB increased from USD74,598,087 in 2000 to USD84,561,099 in 2001, to USD90,891,577 in 2002, and USD98,695,494 in 2003.

The FIVB accounts clearly demonstrate that 80% of the annual income is invested in international competitions. It has also been clearly established and attested by the FIVB’s chartered accountants, officially registered in Switzerland, that the totality of the IOC payments received by the FIVB in respect of the rights produced by the Games have never been charged in any way whatsoever by commissions. The accusations related to the fact that the FIVB President has received such commissions in relation to the money paid to the FIVB by the IOC are totally false and malicious, said the outraged Board members.

The Board of Administration confirmed its full trust in the procedures and financial regulations that have been successfully implemented since 1990, and will be maintained.

For more details contact:

Richard Baker – FIVB Communications
Phone: +41 21 345 35 35
Fax: +41 21 345 35 45
press@fivb.org